I have an invoice for the addition of a motor vehicle on the insurance for £47.57. Due to deleting a few other vehicles from the policy its sort of balanced itself out and so the bill has been paid through the reduction of the premium if that makes sense.
Now that I have an invoice that wasn't paid by ourselves but was taken care of by other means, what do I do with the invoice in terms of filing and manual bookkeeping? Do I include it in the accounts as a refund?
As you're using Excel, do you show the DD for the insurance each month as the cost? If so then the cost will all even itself out and that invoice can be filed with the original invoice for the insurance along with the paperwork showing the other amendments.
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Jenny
Responses are my opinion based on the information provided. All information should be thoroughly checked before being relied on.
The insurance is paid in full annually. I'm thinking there may be another amended invoice filed away somewhere with this already on which has been dealt with in accounts :/ would I just clip this invoice to the amended one do you think?
If the premium had also gone down due to the other changes I would guess there should be a credit note floating around somewhere, plus this new invoice, which should then all equal themselves out, in which case just attach it all together with a short note explaining. If at some point you do actually have to pay something or receive a refund then enter that on your spreadsheet.
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Jenny
Responses are my opinion based on the information provided. All information should be thoroughly checked before being relied on.
